Lot 130: ONE ACRE PARCEL OF LAND WITH LAPSED PLANNING AND FUTURE DEVELOPMENT POTENTIAL

Sold £305,000

This 0.40 hectare (0.99 acre) parcel of land is situated at Lake, between the larger conurbations of Sandown and Shanklin on the east coast of the Isle of Wight.

The land is adjacent to a recently completed ALDI Supermarket and the Spithead Business Centre, while to the south and on the other side of Whitecross Lane is residential housing.

The site has previously enjoyed the benefit of Planning Consent for six detached houses as part of a scheme for industrial/business and residential development on a larger site but we are advised that the residential element of the Planning Consent is now considered lapsed.

It is considered that the site may be suitable for either residential or commercial re-development, subject to all necessary consents being obtainable.

Planning

Outline Planning Permission was granted by Isle of Wight Council under ref: P/01811/11 – TCP/27927/C, dated 22nd March 2012, for industrial/business and residential development and alterations to vehicular access to include provision of a roundabout at Newport Road junction.

Although part of this consent has been implemented, we are advised that the residential element of the consent has now lapsed.

Local Planning Authority

Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.

Viewing

On site during daylight hours, taking care to avoid trespass en-route.

Freehold with Vacant Possession